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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows Used in Operating Activities    
Net Income (Loss) $ (10,873,000) $ (47,176,000)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 163,000 103,000
Amortization of intangible assets 688,000 206,000
Amortization of right-of-use asset 560,000 100,000
Non-cash interest expense, net 31,000 145,000
Stock-based compensation 14,037,000 7,527,000
Impairment of goodwill 0 4,049,000
Impairment of intangible assets 0 631,000
Loss on extinguishment of debt 0 421,000
Warrant issuance expense 0 6,580,000
Change in fair value of warrant liability (18,989,000) 3,280,000
Loss on sale of Inpixon division 831,000 0
Other 1,000 20,000
Changes in operating assets and liabilities:    
Accounts receivable and other receivables 1,480,000 (1,293,000)
Inventories (2,389,000) 1,016,000
Prepaid expenses and other current assets (875,000) 101,000
Other assets 35,000 287,000
Accounts payable (3,116,000) (1,940,000)
Related party payables 0 (51,000)
Accrued expenses and other current liabilities 27,000 (4,600,000)
Customer deposits (85,000) 336,000
Operating lease obligation (529,000) (98,000)
Net Cash Used in Operating Activities (19,003,000) (30,356,000)
Cash Flows Used in Investing Activities    
Purchase of property and equipment (228,000) (126,000)
Net cash paid on disposal of the Inpixon Business (694,000) 0
Net Cash Used in Investing Activities (922,000) (126,000)
Cash Provided by Financing Activities    
Proceeds from the exercise of liability classified warrants 7,927,000 4,061,000
Proceeds from other debt 60,000 0
Payment of offering costs and commissions in connection with exercise of liability classified warrants (488,000) 0
Net proceeds from sale of common stock and pre-funded warrants via public offerings 0 57,051,000
Net proceeds from ATM stock offering 0 1,667,000
Redemption of Series 9 preferred stock 0 (1,427,000)
Borrowings on Asset-Based Revolving Line of Credit (Drone Nerds) 89,456,000 0
Repayment of borrowings on Asset-Based Revolving Line of Credit (Drone Nerds) (83,528,000) 0
Payment of debt issuance costs (565,000) 0
Repayments of promissory notes - related party (3,500,000) (2,784,000)
Net Cash Provided by Financing Activities 9,362,000 58,568,000
Effect of Foreign Exchange Rate on Changes on Cash 20,000 7,000
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (10,543,000) 28,093,000
Cash, Cash Equivalents and Restricted Cash - Beginning of period 16,919,000 4,105,000
Cash, Cash Equivalents and Restricted Cash - End of period 6,376,000 32,198,000
Supplemental Disclosure of cash flow information:    
Cash paid for interest 601,000 282,000
Cash paid for income taxes 0 10,000
Non-cash investing and financing activities    
Common shares issued for conversion of debt and accrued interest 0 750,000
Reclassified warrant liability to equity upon exercise of warrants 3,299,000 0
Conversion of Series 10 Preferred Stock to pre-funded warrants 24,186,000 0
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation [Abstract]    
Cash and cash equivalents 5,657,000 32,198,000
Restricted cash 719,000 0
Cash, cash equivalents of discontinued operations included in current assets of discontinued operations 0 0
Cash, cash equivalents and restricted cash $ 6,376,000 $ 32,198,000

Source

10-Q PDF
XBRL